FEATURED ARTICLE
Resilience in a Cooling Economy
It’s important to be able to read the signs in a changing economy. Retrospectively, it’s easy to see the changes that have been coming. But those who can find and see the signs ahead of time often have more resiliency when the cycles shift, which they always do.
Resiliency is about watching and preparing for these shifts. It’s positioning yourself for the future on the backside of the pandemic. Last summer, we predicted a cooling off of the economy, and in fall and winter we saw the effects of that, such as in the form of retailers’ excess inventories.
Now, we are finding ourselves in a full-blown concern over the market. Housing markets are declining, and most economists, despite showing optimism throughout 2022, are now predicting a recession sometime in 2023-2024. Rising interest rates and geopolitical concerns impact the markets, consumer and employee behaviors.
How can we prepare?
We can boost our resiliency by watching the markets – and not just the stock market. Pay attention to the broader financial markets and real estate markets, including the growing vacancies in the office segment. Keep tabs on changing consumer trends and shifting demographics. One report I keep an eye out for each year is the Annual National Movers Study put out by United Van Lines. This offers great insight into how things may change, and the recent report bodes well for the Carolinas.
The Carolinas, as a destination for relocating residents and companies alike will weather the storm a lot better than other parts of the country, primarily because of the large shifts in population moving here. Our lower costs of living and robust job opportunities continue to draw newcomers, which will give our area strength even if the national economy falters.
-Kathleen
NEWS & EVENTS
Rose Associates on YouTube – “Luminaries Podcast”
We are on YouTube! Rose Associates has started a YouTube channel, which will feature Kathleen Rose’s new “Luminaries Podcast”. We will also post webinars, presentations and other content. Be sure to subscribe to receive notifications when new content is added.
ADVISORY PROJECT UPDATES
Rose Associates’ work continues on the following projects:
- In Iredell County, Rose Associates teamed up with Clarion Associates to work on an updated Comprehensive Plan that will inform the 2030 Horizon Plan. Local conditions have changed significantly since the plan was adopted in 2009, particularly substantial growth in residential housing and industrial development.
- In Monroe, NC, we are continuing our work on the Downtown Plan. We recently held a public workshop to include an engaging discussion with local artists.
In Clayton, NC, we continue work on the Downtown Plan. This fast growing community in Johnston County is within commuting distance to Raleigh. A public workshop is scheduled for the end of February, followed by draft report.
Rose Associates working on both these plans with strategic partner McAdams. - Rose Associates’ work also continues on the corridor study for US 70 West Corridor, a 19-mile section in Orange & Alamance Counties. Working with VHB, the Rose team is considering transportation and real estate impacts from the region’s continued growth.
